Insider Selling: ArcBest (NASDAQ:ARCB) Director Sells 1,443 Shares of Stock

Key Points

• ArcBest Director Judy McReynolds sold 1,443 shares at an average price of $139.30, totaling approximately $201,010. Her remaining stake was valued at about $7.37 million, a 2.66% reduction.
• ArcBest reported quarterly EPS of $2.38, beating estimates of $2.26, while revenue rose 15.9% year over year to $1.18 billion. Shares recently traded at $136.19.
• The company declared a quarterly dividend of $0.12 per share, equal to a $0.48 annualized payout and a 0.4% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $154.23.

ArcBest Corporation (NASDAQ:ARCB - Get Free Report) Director Judy Mcreynolds sold 1,443 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $139.30, for a total value of $201,009.90. Following the sale, the director owned 52,905 shares of the company's stock, valued at approximately $7,369,666.50. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

ArcBest Stock Performance

Shares of NASDAQ:ARCB traded up $0.94 during trading on Friday, hitting $136.19. The company's stock had a trading volume of 38,977 shares, compared to its average volume of 372,570. The company has a 50-day moving average of $149.66 and a 200-day moving average of $121.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 197.26, a P/E/G ratio of 0.46 and a beta of 1.57. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $176.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.12. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.ArcBest's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 EPS. On average, sell-side analysts expect that ArcBest Corporation will post 6.9 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, August 7th. ArcBest's dividend payout ratio is currently 69.57%.

Hedge Funds Weigh In On ArcBest

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its position in shares of ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company's stock valued at $75,000 after acquiring an additional 567 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company's stock valued at $83,000 after purchasing an additional 934 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of ArcBest in the 2nd quarter valued at $85,000. Assetmark Inc. increased its stake in ArcBest by 5,940.0% during the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company's stock worth $90,000 after purchasing an additional 1,188 shares during the period. Finally, KBC Group NV boosted its stake in shares of ArcBest by 69.4% in the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company's stock valued at $96,000 after buying an additional 532 shares during the period. Institutional investors and hedge funds own 99.27% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Stephens raised shares of ArcBest to a "strong-buy" rating in a research note on Wednesday, July 8th. Stifel Nicolaus upped their price target on shares of ArcBest from $134.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Citizens Jmp assumed coverage on shares of ArcBest in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $180.00 price target on the stock. The Goldman Sachs Group reiterated a "buy" rating and set a $172.00 price objective on shares of ArcBest in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company increased their target price on ArcBest from $130.00 to $150.00 and gave the company an "equal weight" rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, ArcBest has a consensus rating of "Moderate Buy" and an average target price of $154.23.

About ArcBest

ArcBest Corporation NASDAQ: ARCB is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company's asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.

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